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Bitcoin whales on the move at $57K – To buy or sell?

  • Bitcoin jumped 7.4% in just 12 hours.
  • Whale activity indicates a bullish recovery.

Bitcoin (BTC) just jumped 7.4% in the last 12 hours. This sudden move has everyone wondering if this is the start of something bigger?

Bitcoin whales eye $57,000

AMBCrypto’s analysis of Coinglass data shows that the major players are hovering around $57,100. When whales move, the market tends to notice. This price level could be where the next big push or pullback occurs.

The concentration of whale activity at this level is crucial. It suggests a potential accumulation zone or a level where large holders might be looking to dump their stocks. Either way, this is a price level worth considering.

Source: Coinglass

Big money versus small money

According to Hyblock data, the whale-to-retailer ratio is 49.15. This means that retail traders are slightly outweighing whales at the moment.

This is a fairly balanced distribution, which could lead to an interesting tug-of-war between whales and retail investors.

This quasi-equilibrium state often precedes major market moves. If retail traders start accumulating or whales make a coordinated move, we could see a sharp breakout in either direction.

Source: Hyblock

Long/Short Positions with Uptrend

AMBCrypto’s deeper analysis of Coinglass data shows that the long/short ratio is actually bullish. Despite some imbalance in the market, more investors are positive about further price gains.

This correlation with the recent rise in prices could fuel further upward momentum.

The bullish long-to-short ratio suggests growing confidence among traders. It indicates that many are positioning for a continued upside outlook, which could become a self-fulfilling prophecy if enough buyers step in.


Read Bitcoin (BTC) Price Prediction 2024-2025


What’s next for Bitcoin?

The rise in Bitcoin price is turning heads, which is positively correlated with whale buy orders. Whales are active, but many traders remain skeptical. This shock could lead to dramatic price swings.

Investors should keep an eye on the $57,000 level. If Bitcoin breaks above it, we could see further upside.

News Source : ambcrypto.com
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Sara Adm

Aimant les mots, Sara Smith a commencé à écrire dès son plus jeune âge. En tant qu'éditeur en chef de son journal scolaire, il met en valeur ses compétences en racontant des récits impactants. Smith a ensuite étudié le journalisme à l'université Columbia, où il est diplômé en tête de sa classe. Après avoir étudié au New York Times, Sara décroche un poste de journaliste de nouvelles. Depuis dix ans, il a couvert des événements majeurs tels que les élections présidentielles et les catastrophes naturelles. Il a été acclamé pour sa capacité à créer des récits captivants qui capturent l'expérience humaine.
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